Michael Manfredi has closed another Arizona reverse mortgage for Mr. and Mrs. Phoenix, AZ. The property consists of a custom home located on 2.5 acres in a suburban part of Phoenix. Due to the current economic conditions, at $410,000 the appraised value of the home is actually less than the cost to build this home new. The borrowers are releasing some of their equity in this home to pay for another home purchase with the cash they will receive from the reverse mortgage. They are buying the new home for their granddaughter who requires special medical care.
Posts Tagged ‘reverse mortgage rates’
Reverse Mortgage Phoenix, AZ
Posted by Michael Manfredi on October 20th, 2009
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